Pound Sterling Price News and Forecast: GBP/USD regained traction
|GBP/USD Forecast: Sterling set to extend gains as Brexit, vaccines and BOE are all pound-positive
Another day, another scandal for UK Prime Minister Boris Johnson, who allegedly said he would prefer seeing bodies pile up than impose a new lockdown – a claim Downing Street strongly denies. For sterling, Johnson's Brexit actions matter more and they are pound-positive.
The EU and the UK are reportedly negotiating a quid pro quo deal on dealing with trade in Northern Ireland. Brussels has made new offers to London, potentially allowing for a breakthrough that could resolve issues and allow for more fluid commerce. While COVID-19 is the overwhelming economic issue, leftovers from Brexit remain a drag on the British economy and any progress could add another boost. Read more...
GBP/USD outlook: Sterling regained traction but continues to move within daily cloud
Cable extended Friday’s bounce and rose above 1.39 mark in early European trading on Monday but continues to trade within daily cloud (1.3844/1.3957) which started to narrow and will twist later this week.
Break of cloud top would generate bullish signal for renewed attack at psychological 1.40 barrier, above which the pound last traded two months ago. Revived bullish momentum and daily moving averages in positive setup underpin fresh advance, but mixed fundamentals sour the sentiment. Read more...
GBP/USD: Three British developments set to boost sterling
GBP/USD has been rising as the safe-haven dollar retreats from its highs. Optimism about the NI protocol, Britain's vaccine milestone, and bullish BoE comments may boost sterling, Yohay Elam, an Analyst at FXstreet, reports.
“The EU and the UK are reportedly negotiating a quid pro quo deal on dealing with trade in Northern Ireland. Brussels has made new offers to London, potentially allowing for a breakthrough that could resolve issues and allow for more fluid commerce. Leftovers from Brexit remain a drag on the British economy and any progress could add another boost.” Read more...
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.